Mike Budenholzer is Ov Financegoing home.

Budenholzer, an Arizona native, has reached an agreement on a five-year deal to become the Phoenix Suns’ next coach, according to multiple reports.

The Suns moved quickly after firing Frank Vogel Thursday and identified Budenholzer as their No. 1 option. It is Phoenix’s third coach in as many seasons as owner Mat Ishbia, who bought the Suns in 2022, tries to capitalize on a narrow window with three gifted offensive players.

Budenholzer takes over a team with championship expectations, a fact president of basketball operations James Jones made apparent in the news release announcing Vogel’s firing. The Suns have a huge payroll with Kevin Durant, Devin Booker and Bradley Beal. The Suns will be a luxury tax-paying team in 2024-25.

A two-time NBA Coach of the Year, Budenholzer coached the Milwaukee Bucks to an NBA championship in 2021 but was not retained after his fifth season in 2022-23, which saw the top-seeded Bucks lose to the Miami Heat in the first round of the playoffs.

Known for his defensive acumen, Budenholzer has had strong offensive teams, too, and he will need to maximize the Durant-Booker-Beal trio. He has had success as a head coach in Atlanta and Milwaukee, going 484-317 in 10 seasons, five with each team. The 2014-15 Hawks reached the conference finals and the 2018-19 Bucks also reached the conference finals. He broke through in 2020-21 with Giannis Antetokounmpo carrying the Bucks to a title. Budenholzer is 56-48 in the playoffs.

Before going to Atlanta in 2013, he was a longtime assistant coach for the San Antonio Spurs under Gregg Popovich. With the Spurs, he was part of four championship teams.

Budenholzer’s dad, Vince, was a successful basketball coach at Holbrook (Arizona) High, 185 miles northeast of Phoenix. He won more than 300 games and captured a state championship in 1971.

At the start of the 2021 Finals in Phoenix against the Suns, Budenholzer asked if he was in, “the Al McCoy room," referencing the longtime play-by-play voice of the Suns. "If it's not, I want to spend some time there. I listened to him on the TV and radio – great, fond memories of watching the Suns and Walter Davis and Paul Westphal, and you can go on and on."